Here’s what Wall Street is saying about Disney ahead of earnings

Disney (DIS) is scheduled to report results of its fiscal fourth quarter before the market opens on November 13, with a conference call scheduled for 8:30 am ET. What to watch for:

GUIDANCE: Along with its last report, Disney raised its fiscal 2025 adjusted earnings per share guidance to $5.85 from $5.75. At the time, analysts were expecting the company to report FY25 EPS of $5.77, but that figure has since risen to $5.88. While Disney did not provide Q4 earnings or revenue guidance, it said it expects total Disney+ and Hulu subscriptions to increase more than 10M compared o Q3, with the majority of the increase coming from Hulu as a result of the expanded Charter deal. Wall Street expects the company to report Q4 EPS of $1.02 on revenue of $22.78B.

BOFA: After the previous report, BofA reiterated a Buy rating and $140 price target on Disney after the company reported a “solid” Q3 with revenue below but operating income and EPS above the firm’s expectations. The analyst also noted the other announcements from Disney, namely: the acquisition of NFL Network; the launch date of their new direct-to-consumer ESPN offering; and the acquisition of WWE rights. This new ESPN DTC will be a “robust” offering, and should be a key contributor to sports growth in FY26 and beyond, the analyst old investors in a research note. The firm added that while the company raised its FY25 outlook, it expects this was lower than investor expectations and is leading to the negative share performance.

CITI: Last month, Citi analyst Jason Bazinet raised the firm’s price target on Disney to $145 from $140 and maintained a Buy rating on the shares ahead of the fiscal Q4 report. The firm sees investors focusing on Disney’s streaming results and experiences trends. Its estimates for Q4 are close to the consensus.

DRAFTKINGS/PENN: Last week, Disney’s ESPN named DraftKings as the Official Sportsbook and Odds Provider of ESPN, starting Dec. 1, the sports network announced. DraftKings will be integrated into ESPN’s platforms starting in December, including providing content for the betting tab within the ESPN app. At launch, ESPN users will be able to access DraftKings’ sportsbook, daily fantasy and Pick6. A full rollout of all integrations is expected in 2026. Earlier Thursday, ESPN announced it will no longer work with Penn Entertainment (PENN). “Our betting approach has focused on offering an integrated experience within our products. Working with DraftKings, a leader in the space, will allow us to build upon that foundation, continue to super-serve passionate sports fans and grow our ESPN direct-to-consumer business. We are excited about this new collaboration with DraftKings,” ESPN chairman Jimmy Pitaro said in a statement.

HULU: In early October, Disney said that, beginning October 8, Hulu will become the global General Entertainment brand on Disney+, replacing Star in international markets. With this change, and in preparation for a fully integrated unified app experience next year, users will begin to see further integrations of Hulu across the Disney+ app as part of an ongoing and iterative slate of product updates on the homepage and beyond. This includes a series of design and navigation enhancements rolling out over the coming weeks and months. “While several of these design updates will apply across living room screens, we’re also putting a lot of thought into enhancing the mobile experience,” the company said. “Widgets are launching on iOS, which will add another front door to take users directly into our programming with one click. And in the year ahead, we’re looking forward to introducing mobile-first and mobile-exclusive experiences that will expand our reach and engage with new audiences. These enhancements are just the beginning, with additional updates planned in the lead-up to the launch of a unified app experience next year.”